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The City’s Great Financial Scandals .. and their Ghosts Past and Future

Think Left

Professor Michael Mainelli  discusses financial scandals, past and future

Gresham College Lectures.

What the Dickens?
The City’s Great Financial Scandals,
Past and Future

Professor Michael Mainelli

Extracts:

  • The litany of great financial scandals is long, and sadly unending.  Dickens himself covers scandals we would recognise today in Little Dorrit and Nicholas Nickleby.  Beyond Dickens, the South Sea Bubble (of course), railway shares, bonds in newly independent countries (Kingdom of Poyais), never again… IOS, Saavundra, Rolls Razor, Bank of Gibraltar, BCCI, never again… endowment mortgages, Barlow Clowes, Equitable Life, Maxwell, Lloyd’s names, Lehman Brothers, payment protection insurance, never again… This symposium seeks, through the ghosts of scandals past, present and future, to see what lessons we can learn and to assess which is rosier, the future of finance or of financial scandals.

Greed, Fear and a little gas

  • And since we put this symposium in the programme, LIBOR and mis-sold interest rate swaps. The global financial…

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